“This funding round positions us to capitalize on the digital transformation of construction project management. In the past 12 months, we have achieved 15x revenue growth.” – Michael Mazur, CEO and Co-Founder of AI Clearing. 

AI Clearing, an AI-powered construction progress tracking and quality control platform, has secured a significant $14 million in Series A funding. Prudence led the funding round, with participation from FJ Labs, Tera Ventures, Inovo, and Innovation Nest.

AI Clearing’s technology is a game-changer for the construction industry, allowing real-time tracking of construction progress and quality, a task that was previously challenging without AI. This innovation is particularly critical for large infrastructure projects like utility-scale solar installations, railways, roads, pipelines, airports, and power transmission projects, which often involve significant budgets and millions of on-site items. (Businesswire)

Before AI Clearing, such projects relied on manual tracking, leading to budget overruns, delays, and disputes due to limited coverage. AI Clearing’s automated technology and cloud-based platform compares on-site progress to project designs, budgets, and schedules, ensuring accuracy and control.

Michael Mazur, CEO of AI Clearing, said the company achieved a remarkable 15-fold revenue growth in the past year. With this capital infusion, it planned to expand the sales and client success teams in the United States, Western Europe, and the Gulf region.

The infrastructure construction market boasts over $4.5 trillion in annual global spending. AI Clearing already partners with major construction firms, including Bechtel and PCL, and integrates seamlessly with industry-standard software like Oracle’s Primavera P6.

AI Clearing’s proprietary AI technology, developed over three years, provides real-time insights and operational efficiencies. It also addresses the industry’s challenge of a diminishing workforce by enabling the delivery of more projects with fewer personnel while maintaining high-quality standards.

Jordan Viniar, Partner at Prudence, said AI Clearing’s advanced technology offered a solution to delays and quality issues in large infrastructure projects which could result in significant cost overruns and disputes.

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